Japanese blast furnace steel mills intend to manifest definite resistance against shortening of fixed price period as request by BMA (BHP Billiton Mitsubishi Alliance/invested on 50/50 basis by BHP Billiton and Mitsubishi Corp). As reported already, before commencement of metallurgical coal negotiations for the fiscal year 2010, BMA has been requesting to shorten a period of fixed price which hitherto has been one year according to the Japanese fiscal year (April-March). To be more precise, it indicated three choices to blast furnace steel producers of 1) contract for a quarter plus year term contract (with maximum 50% of year term contract), 2) contract for quarter plus half year contract (maximum 50% of half year contract) and 3) all contracts for one quarter.
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